{"id":108854,"date":"2023-03-02t11:57:56","date_gmt":"2023-03-02t16:57:56","guid":{"rendered":"\/\/www.g005e.com\/?p=108854"},"modified":"2024-08-14t11:25:27","modified_gmt":"2024-08-14t15:25:27","slug":"16-steps-to-creating-a-partnership-path","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/03\/02\/16-steps-to-creating-a-partnership-path\/","title":{"rendered":"16 steps to creating a partnership path"},"content":{"rendered":"<p><strong><a href=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-73493\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-424x424.jpeg\" alt=\"\" width=\"276\" height=\"276\" srcset=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-424x424.jpeg 424w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-300x300.jpeg 300w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-100x100.jpeg 100w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-600x600.jpeg 600w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-201x201.jpeg 201w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-768x768.jpeg 768w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-24x24.jpeg 24w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-48x48.jpeg 48w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-96x96.jpeg 96w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-150x150.jpeg 150w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2020\/04\/empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy.jpeg 850w\" sizes=\"auto, (max-width: 276px) 100vw, 276px\" \/><\/a>bonuses: 12 questions to ask staff about the future. advancing from staff to senior to manager.<\/strong><\/p>\n<p><i>by marc rosenberg<\/i><br \/>\n<a href=\"\/\/www.g005e.com\/shop\/how-to-bring-in-new-partners\/\"><i>how to bring in new partners<\/i><\/a><\/p>\n<p>\u201ci think nothing is more important than what a firm does to create partners. i mean from day 1 of someone\u2019s career. or maybe when a person is identified as a star. it\u2019s critical what the firm does to nurture that person so that they become a partner someday.\u201d \u2013 harry steindler, partner, michaelsilver (chicago)<\/p>\n<blockquote><p><b>more: <\/b><a href=\"\/\/www.g005e.com\/2023\/02\/23\/nine-ways-to-measure-staff-performance-on-the-path-to-partner\/\">nine ways to measure staff performance on the path to partner<\/a> | <a href=\"\/\/www.g005e.com\/2023\/02\/16\/three-types-of-skills-you-need-to-become-a-partner\/\">three types of skills you need to become a partner<\/a> | <a href=\"\/\/www.g005e.com\/2023\/01\/19\/seventeen-basic-expectations-of-partners\/\">seventeen basic expectations of partners<\/a> | <a href=\"\/\/www.g005e.com\/2022\/12\/29\/nine-reasons-staff-should-want-to-become-partners\/\">nine ways to woo a prospective partner<\/a><br \/>\n<strong><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-49700 size-full\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/08\/yellow_key_clip_art-e1375897299811-36p-hi-1-e1603911598474.jpg\" alt=\"goprocpa.com\" width=\"39\" height=\"16\" \/><span style=\"color: #b79c00;\">exclusively for pro members. <\/span><\/strong><span style=\"color: #b79c00;\"><a style=\"color: #b79c00;\" href=\"\/\/www.g005e.com\/wp-login.php?redirect_to=\/\/www.g005e.com\/2023\/03\/02\/16-steps-to-creating-a-partnership-path\/\">log in here<\/a> or <a class=\"external\" style=\"color: #b79c00;\" href=\"http:\/\/goprocpa.com\/\" target=\"_blank\" rel=\"noopener\">2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n<p>here is what the best firms do to create a path to partnership. these practices are not ranked strictly, but items at the top of the list are more common and effective than those toward the bottom. however, all the items are important.<br \/>\n<!--more--><\/p>\n<ol>\n<li><strong>firms maintain a formal mentoring program.<\/strong> nine keys to effective mentoring programs:<\/li>\n<\/ol>\n<ul>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>there needs to be a firmwide mentoring champion.<\/li>\n<li>limit mentors to those who have the skills for it.<\/li>\n<li>mentees can choose mentors, but be careful not to overload one mentor with too many prot\u00e9g\u00e9s.<\/li>\n<li>mentors advise staff where they stand in the firm and what they need to do to advance.<\/li>\n<li>mentoring meetings should occur at least monthly.<\/li>\n<li>mentors should make mentees feel safe.<\/li>\n<li>mentors help mentees set goals.<\/li>\n<li>mentors are usually not the best people to conduct performance evaluations.<\/li>\n<li>mentors should not be assigned permanently.<\/li>\n<\/ol>\n<\/li>\n<\/ul>\n<ol start=\"2\">\n<li><strong>firms send staff to outside leadership development programs. <\/strong>the better programs convene multiple sessions over a period of time ranging from several months to two or three years.<\/li>\n<li><strong>a huge part of a partner\u2019s job is to develop people. <\/strong>firms must reward what they expect. partners\u2019 compensation should include a meaningful factor for the extent that staff advanced under their tutelage. partners should make clear, impactful contributions to developing and retaining staff.<\/li>\n<li><strong>staff attend high-level client meetings to observe partners\u2019 conduct and style, even if their time is not billable. <\/strong>as much as possible, staff should prepare the agenda and meeting minutes.<\/li>\n<li><strong>partners rarely go on sales calls alone. <\/strong>they take staff with them.<\/li>\n<li><strong>early on, identify staff who have star potential. jennifer wilson of convergencecoaching says,<\/strong>\u00a0\u201cstar performers are valuable because they rise above others in initiative, intention and investment. they are driven to seek the next level in their careers. communicate this to the staff and see how interested they are in being on a partner track.\u201d<\/li>\n<li><strong>partners proactively help staff become partners. <\/strong>the stars are given plum assignments and opportunities to work with the firm\u2019s best clients. the firm errs on the side of giving the stars challenging work projects at an early stage in their development. stars get higher salary increases and bonuses than the other staff.<\/li>\n<\/ol>\n<p style=\"padding-left: 40px;\">some firms are concerned that giving certain staff star treatment will alienate average or marginal staff. get over it. giving special attention to your above-average staff is far more important than appeasing ordinary or marginal people. besides, if you compensate the stars the same as the others, it will upset the stars. you can\u2019t win!<\/p>\n<p style=\"padding-left: 40px;\">treat your stars like partners before they actually become partners. let them lead. keep them engaged. err on the side of promoting them too soon.<\/p>\n<ol start=\"8\">\n<li><strong>adopt the gradual release of responsibility model <\/strong>of training (from jennifer wilson of convergencecoaching). this is particularly effective when a partner or manager is teaching a staffer a complex project. it consists of four steps, in this order:<\/li>\n<\/ol>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>i do\/ you watch.<\/li>\n<li>i do\/you help.<\/li>\n<li>you do\/i help.<\/li>\n<li>you do\/i watch.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ol start=\"9\">\n<li><strong>provide long-term training in business development.<\/strong><\/li>\n<li><strong>give staff responsibility for managing clients.<\/strong> as the staff earn promotions to senior and manager, begin to assign small clients to them to give them the experience of managing engagements and client relationships.<\/li>\n<li><strong>involve them in a formal, written goal-setting program.<\/strong><\/li>\n<li><strong>encourage staff to pursue niches and specialties.<\/strong><\/li>\n<li><strong>partner potentials should be educated in the business of public accounting. <\/strong>they should understand how the firm makes money and what holds profitability back. they should understand how cpa firms are managed and what makes them successful and efficient.<\/li>\n<li><strong>assign partner candidates to firm initiatives in service and technical areas<\/strong>.<\/li>\n<li><strong>managers and non-equity partners should attend portions of equity partner meetings<\/strong><strong> and partner retreats<\/strong>.<\/li>\n<li><strong>managers should undergo the same performance appraisal process as partners<\/strong><strong>, with the same criteria for evaluation<\/strong>.<\/li>\n<\/ol>\n<h3>12 questions to ask of staff<\/h3>\n<p><em>from jennifer wilson of convergencecoaching.<\/em><em>\u00a0<\/em><\/p>\n<ol>\n<li>what do you envision for your career in one year? in three years?<\/li>\n<li>what do you view as your strengths and gifts?<\/li>\n<li>what do you most like to do in your position right now?<\/li>\n<li>what would you most like to try doing?<\/li>\n<li>what do you like least in your position right now? why? what would you like to see changed in your role as a result of this?<\/li>\n<li>what skills do you want to develop to further succeed at the firm?<\/li>\n<li>what other skills are you interested in acquiring?<\/li>\n<li>what more can i, as your coach or mentor, or the firm do to improve your job satisfaction and assist you in being more successful?<\/li>\n<li>what other areas of the firm are you interested in learning about?<\/li>\n<li>what questions do you have about your career and its progression?<\/li>\n<li>what should i know about you personally? what do you want to know about me?<\/li>\n<li>what else would you like to discuss?<\/li>\n<\/ol>\n<h3>what it takes to advance<\/h3>\n<p>cpa firms have many different titles or positions. we will address the most common:<\/p>\n<ul>\n<li>staff<\/li>\n<li>senior<\/li>\n<li>manager<\/li>\n<\/ul>\n<p>i often use the term \u201cstaff\u201d to refer to anyone who is not at the partner level. this is different from a \u201cstaff-level\u201d associate, who typically has only a few years or less of experience in public accounting.<\/p>\n<p>this section addresses what it takes to advance from staff to senior and from senior to manager.<\/p>\n<p>&nbsp;<\/p>\n<table border=\"1\" width=\"457\">\n<thead>\n<tr>\n<td width=\"58\"><strong>title<\/strong><\/td>\n<td width=\"138\"><strong>position description<\/strong><\/td>\n<td width=\"87\"><strong>next promotion<\/strong><\/td>\n<td width=\"174\"><strong>what it takes <\/strong><\/p>\n<p><strong>to advance<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td width=\"58\"><strong>staff<\/strong><\/td>\n<td width=\"138\">\u00b7 is entry-level<\/p>\n<p>\u00b7 works on one job at a time<\/p>\n<p>\u00b7 does not supervise staff<\/p>\n<p>\u00b7 mainly focuses on learning basic technical skills<\/p>\n<p>\u00b7 rarely reports to a partner<\/td>\n<td width=\"87\"><strong>senior<\/strong><\/td>\n<td width=\"174\">\u00b7 has the ability to senior small jobs<\/p>\n<p>\u00b7 hits annual charge hour budget with acceptable realization<\/p>\n<p>\u00b7 has mastered basic technical work<\/p>\n<p>\u00b7 doesn\u2019t repeat mistakes<\/p>\n<p>\u00b7 has 2-3 years as a staff person<\/td>\n<\/tr>\n<tr>\n<td width=\"58\"><strong>senior<\/strong><\/td>\n<td width=\"138\">\u00b7 runs jobs in the field<\/p>\n<p>\u00b7 mostly does one job at a time, but not always<\/p>\n<p>\u00b7 supervises staff<\/p>\n<p>\u00b7 has heavy client contact<\/p>\n<p>\u00b7 has lots of partner contact<\/td>\n<td width=\"87\">&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>manager<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<td width=\"174\">\u00b7 jobs delivered to manager or partner need minimal change<\/p>\n<p>\u00b7 is a skillful supervisor<\/p>\n<p>\u00b7 is productive; realizable<\/p>\n<p>\u00b7 has partner or permanent manager potential<\/p>\n<p>\u00b7 has credibility with staff and partners<\/p>\n<p>\u00b7 has 2-3 years as a senior<\/p>\n<hr \/>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p><strong>bonuses: 12 questions to ask staff about the future. advancing from staff to senior to manager.<\/strong><br \/>\n<a href=\"\/\/www.g005e.com\/2023\/03\/02\/16-steps-to-creating-a-partnership-path\/\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-109123\" src=\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/03\/250_empty-asphalt-road-with-a-sign-start-against-sun-adobestock_77818919-850w-copy-600x600-1.jpeg\" alt=\"\" width=\"250\" height=\"190\" \/><\/a><br \/>\n<i>by marc rosenberg<\/i><br \/>\n<a href=\"\/\/www.g005e.com\/shop\/how-to-bring-in-new-partners\/\"><i>how to bring in new partners<\/i><\/a><\/p>\n","protected":false},"author":1339,"featured_media":52068,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2741,2259,2374,3120,3002,2297,2298,2266],"tags":[3958,2429,3962,3961,643,715,572,3959,38,272,226,1416],"class_list":["post-108854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-checklist","category-leadership","category-pay-compensation","category-pro-member-exclusive","category-special","category-staffing","category-succession","category-partner","tag-cpa-billing-rates","tag-earnings","tag-fte","tag-headcount","tag-hiring","tag-jobs","tag-pay","tag-salaries","tag-salary","tag-staff","tag-staffing","tag-wages"],"acf":[],"yoast_head":"<!-- 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